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4 billion dollars: Amarchand, Crawford, Luthra & 2 foreigns help troubled Ranbaxy sell out to Sun Pharma

Generics: Cheap, big business
Generics: Cheap, big business

Sun Pharma bought debt-ridden pharmaceutical giant Ranbaxy for $4bn from Daiichi Sankyo.

Luthra & Luthra advised Ranbaxy and its senior management and independent directors, led by managing partner Rajiv Luthra and partners Bobby Chandiok, Sameer Dudoria, Sandeep Dudeja, Damini Bhalla and Vaibhav Kakkar.

Ranbaxy co-counsel was Amarchand Mangaldas, led by Mumbai managing partner Cyril Shroff, and partners Nivedita Rao and Gurpreet Asher, who also acted for Ranbaxy majority-owner Daiichi.

Davis Polk & Wardwell New York partner Michael Davis and associate Brian Friedman advised Daiichi and Ranbaxy as international legal counsel.

Crawford Bayley partner Sanjay Asher acted for Sun Pharma with Shearman & Sterling partner Peter Lyons.

In the all stock transaction, Sun Pharma is buying Ranbaxy equity for around $3.2bn, while Ranbaxy shareholders will get 0.8 shares in Sun Pharma for every share of Ranbaxy, reported Moneycontrol.

Daiichi owned 63.4 per cent in India’s top drug manufacturer by sales, according to Reuters, has been struck by a US export ban on its drug ingredients.

Photo by Open Knowledge Foundation

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